Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - FEDERAL EXPRESS CORP | Financial_Report.xls |
| EX-15.1 - EX-15.1 - FEDERAL EXPRESS CORP | d645293dex151.htm |
| EX-31.2 - EX-31.2 - FEDERAL EXPRESS CORP | d645293dex312.htm |
| EX-12.1 - EX-12.1 - FEDERAL EXPRESS CORP | d645293dex121.htm |
| EX-32.1 - EX-32.1 - FEDERAL EXPRESS CORP | d645293dex321.htm |
| EX-31.1 - EX-31.1 - FEDERAL EXPRESS CORP | d645293dex311.htm |
| EX-32.2 - EX-32.2 - FEDERAL EXPRESS CORP | d645293dex322.htm |
| 10-Q - 10-Q - FEDERAL EXPRESS CORP | d645293d10q.htm |
Federal Express Corporation
Retrospective Adoption of New Accounting Guidance Regarding
Reclassification Adjustments Out of Accumulated Other Comprehensive Income
The information in this exhibit reflects the retrospective adoption of new accounting guidance with respect to the financial information contained in our Annual Report on Form 10-K for the fiscal year ended May 31, 2013 (the “Annual Report”).
As discussed in our Quarterly Report on Form 10-Q for the quarter ended November 30, 2013, we have adopted the authoritative guidance issued by the Financial Accounting Standards Board requiring additional information about reclassification adjustments out of accumulated other comprehensive income, including changes in accumulated other comprehensive income balances by component and significant items reclassified out of accumulated other comprehensive income.
Accumulated Other Comprehensive Income (Loss)
The following table provides changes in accumulated other comprehensive income (loss) (“AOCI”), net of tax, reported in our condensed consolidated financial statements for the years ended May 31 (in millions; amounts in parentheses indicate debits to AOCI), and should be read in conjunction with the information in our Annual Report.
| 2013 | 2012 | 2011 | ||||||||||
| Foreign currency translation gain (loss): |
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| Balance at beginning of period |
$ | 54 | $ | 138 | $ | 18 | ||||||
| Translation adjustments |
36 | (84 | ) | 120 | ||||||||
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| Balance at end of period |
90 | 54 | 138 | |||||||||
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| Retirement plans adjustments: |
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| Balance at beginning of period |
(124 | ) | (20 | ) | (13 | ) | ||||||
| Net gain (loss) and other arising during period |
(6 | ) | (99 | ) | (8 | ) | ||||||
| Reclassifications from AOCI |
4 | (5 | ) | 1 | ||||||||
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| Balance at end of period |
(126 | ) | (124 | ) | (20 | ) | ||||||
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| Accumulated other comprehensive income (loss) at end of period |
$ | (36 | ) | $ | (70 | ) | $ | 118 | ||||
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Due to its immateriality, the table presenting details of reclassifications from AOCI has been excluded from this disclosure.